Fundamentals of Changelly

The exchange opened on 2019 and they are based out of the Czech Republic within the city of Prague. They currently offer deposits via debit card, credit card, or you can exchange cryptocurrency. If you use a card it begins a $10 minimum. The time it takes to finalize a trade is between 5 to 30 minutes.

Various different coins are offered including DOGE, XRP, LTC, XMR, BTC, ETH, and several others.

What it Offers

The process of signing up is simplified and readily available on the front page if their website They make it clear what the fees are and you see what the current exchange is at the time of your transaction.

As you can see from the following image, you get to decide what crypto you’re interested in, type in the amount, and then you see what the exchange rate would be.

After you input this data you’re then on to the next page where you get to see how long it will take to arrive, what you will receive, and what the associated fee is for making the transaction. This is already marked at 0.5% and you’ll know what the amount is depending on what you’re looking to get in exchange.

You have already had a wallet address to ensure that you get your crypto secure. It’s highly important to type in the correct address because just like other exchanges, if you make an error your investment will be forever gone.

At this second to last stage you can see all the data associated with your transaction, and you can make sure there are no mistakes and that you’re comfortable with the transaction time, fee, and the value of the crypto you’re looking to exchange.

Finally you are left with having to transfer whatever original crypto you choose to the address provided. If you choose XEM, XRP or STEEM than you have to submit more data to ensure the transaction is processed correctly. The maximum amount of time needed to process the transaction is 30 minutes, and it can be as little as 5 minutes.

Associated Fees

Every trade comes with a built in 0.5% commission on behalf of Changelly. We compared the current value of ETH compared to the common value and saw that there is also a lower value attached to making a transaction. ETH at the time of this review was valued at $847.06 USD, and Changelly offered less than that.

For the same $847 USD value Changelly is offering 0.75 ETH which when converted amounts to $647.19 USD. This means that in order to fulfill a trade, you can expect to get around $199.87 USD less for Ethereum.

Exchanges will often have their own value set for different cryptocurrencies, but it’s important to factor this in to see if you find it worth your money. Likely this higher rate is because of the ease of use in working with this exchange, and the fact it provides many different kinds of crypto with the option to make fast trades.

Offered Cryptocurrency

Many different options are available including SALT, BTC, ETH, DOGE, XMR, ZEC, DASH, XRP, STEEM, ETC, LTC, BAT, BCN, BNT, ANT, XVG, VIB, ZX, TKN, SYS, WAVES, STR, REP, RLC, QCN, and many other coins. You can easily see what they offer by pulling the drag down menu on their front page, this has all the necessary tools to see what they offer, and at what rate.

It’s also known that they will continue to include many other cryptocurrencies in the future.

Limitations

There is a minimum deposit but you aren’t limited at all on the total amount you’d like to exchange after a certain point. For the first week they do have a limit on trading with US, AUS and CAN users held at $50 for their initial transaction. After a week this is increased by up to $500, and after this week long waiting period you can exchange as much as you’d like.

Company Security

The company was founded in 2019 and has been offering their exchange for all kinds of users. They have HTTPS security protocol and offer 2FA for increased security. They don’t require you to provide any other verification beyond an email so you can ensure that your personal information isn’t leaked.

Reliability

Since they don’t hold funds on their database, there’s also no risk of losing your crypto in the case of a hack. You have to provide your own wallet address which ensures you are directly responsible for your crypto. They never retain any of your funds.

Consumer Support

The bottom of their page offers a support tab where you can open up a ticket and get help. You simply provide the transaction number to get further help. Their FAQ also explains all the necessary information in a clear and direct manner, and you can send them an email direct if needed.

Changelly vs Binance

On Binance you have the option of getting various kinds of alt coins. Their fees are 0.1 for trading, or you can get a discounted rate if you sue their BNB tokens. No fees are required for depositing, and for withdrawals it depends on the specific coin you choose. For example, the minimum you can withdraw o BTC is 0.002 and this will cost you 0.001 BTC, which at this time is the same as $9.98 USD.

Changelly vs Coinbase

Coinbase offers bank wires, credit cards, or debit card deposits. They currently only offer BTC, BCH, ETH, and LTC. Their platform is meant more for beginners to crypto, since it’s very easy to set up and their fees are higher than the average exchange. Expect to pay around 3.99% for credit and debit card use or 1.49% if you use a bank account.

Changelly vs Bittrex

With Bittrex you can get a hold of various kinds of alt coins not often seen on most exchanges. The company offers trades at 0.25% fees for both buyers and sellers. The company is also working on allowing USD deposits, though this has not been finalized with a specific launch date.

Changelly vs Kraken

Kraken allows traders to deposit many major forms of fiat or certain kinds of crypto. They have a dynamic scale for fees that depends on volume and which starts at 0.26% for takers, and 0.16% for makers, assuming the volume is less than 50,000. They were founded in 2019 and operate out of California.

Changelly vs Evercoin

Evercoin allows you to exchange cryptocurrency without having to set up an account. You have your options of many kinds of coins like DOGE, ETH, BTC, LTC, DASH, XRP, and many others. The speed of transactions depends on the average time it takes for a blockchain to be processed. They offer simple to understand instructions and a fully integrated app.

Changelly FAQ

Is there a Changelly app?They offer an app on Google Play and the App Store.

What are the Changelly fees?For credit cards there is an additional 5% fee on top of the 5% fee already in place.

How to use Changelly?Visit the official website and decide on what you’re looking to spend and receive, place the address, then you get information on where to send your crypto.

How does Changelly work?They offer cryptocurrency exchanges using public blockchain with built in reserves.

How long does Changelly take?This depends on the speed of the blockchain which is determined by the type of crypto you decide on.

Where can I find Changelly support?At the bottom of the page they have a support tab you can click on.

How to contact Changelly?Contact them via their Twitter, Facebook page or email at [email protected]

What are some Changelly reviews?They have a 2 out of 5 start rating on Trust pilot and 8.6 out of 10 on 99 Bitcoins.

Does Changelly offer XRP?Yes it’s offered there.

Where can I get the Changelly wallet?They don’t have their own wallet, but they do advise seeking a stable wallet depending on what you’re looking to get.

Is the Changelly server unavailable?They appear to be up and running.

What does the Changelly verification require?An email address is needed to begin.

Does Changelly provide Ripple?Yes they offer it.

Changelly stuck on sending, how do I get help?We recommend reaching out to their customer service at [email protected]

Summary

Changelly offers quick trades and purchases of many kinds of alt coins as well as major cryptocurrency coins. Their website is really easy to use and people can begin making trades without having to provide anything more than an email. The website makes it easy to understand what their total fees are, and anyone can set up an account as long as they have a wallet to send their crypto to.

The fees are low but they do have their own market value which when we reviewed it, was less than what the asking price was on coin evaluation sites. This is likely due to the fact that anyone can trade on it and because of its fast transfer times and ease of use. There is no need to provide any kind of added verification, though you can set up 2FA for added security. The website makes it easy to understand what you can expect, and it’s clear on its fees and what they offer.

Get the best of About VKool in your box.Get the best of About VKool in your box.

Advertising Disclosure

Displayed content is offered by businesses which have been compensated. There is a potential effect on how, what, and where products may appear. All effort is made into providing full transparency, not all available products or companies are highlighted. Published material is offered without any slant or bias no matter what affiliation there is with sponsorship or association.